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Topics Mergers & Acquisitions, Europe, Mexico, United States, Automotive, Automotive/transportation, Injection Molding
Techniplas Group is expanding its global reach — and more than doubling its size — with the acquisition of the Swiss-based Plastics Technology Automotive and Industrial division of the Weidmann International Corp.
“We have different customers with virtually no overlap geographically, but the way we overlap strategically is very compelling,” said George Votis, chairman and founder of Techniplas, in a May 14 phone interview.
He said the combination will create a more powerful entity, offering worldwide service that can support its customers from concept to production.
The addition of Weidmann boosts sales at Techniplas from $234 million to nearly $500 million. Terms of the deal were not disclosed.
Techniplas is a privately held, Nashotah, Wis.-based group of plastic manufacturers that serves the automotive, industrial, and medium and heavy truck industries.
Weidmann Plastics Technology A&I is headquartered in Rapperswil, Switzerland, and has manufacturing facilities in Switzerland, Germany, Brazil, China and Auburn, Ala. It makes plastic components primarily for the automotive industry. Areas of expertise include air/water separation components, lighting, under-the-hood components, as well as interior and exterior decorative modules.
Votis said he has been impressed with Weidmann’s quality, facilities and its technologies.
Weidmann will remain a separate company, retain its management team and the Weidmann name. It will also continue to be headquartered in Rapperswil.
Weidmann built its first U.S. plant in 2003. It is also known for its two-shot molding, which it developed in the 1980s and has used over the years to supply European auto makers.
“They are really world-class and their technology can be leveraged across our group,” Votis said.
Techniplas includes Nyloncraft LLC, with facilities in Misawaka, Ind., and Jonesvillle, Mich.; Dickten Masch Plastics LLC, with facilities in Wisconsin, Iowa and Monterrey, Mexico; and Vallotech SA in Vallorbe, Switzerland.